MCLEAN, Va. - V2X, Inc. (NYSE: VVX) has secured an $88 million contract to support and maintain Navy communication, electronic, and computer systems, the company announced today. The firm-fixed price contract includes base and option periods and extends V2X's role in supporting the Naval Computer and Telecommunications Area Master Station Pacific (NCTAMS PAC), a key communications hub for the U.S. Navy in the Pacific.
The contract is structured to run through October 2029, with a 12-month base period, followed by four 12-month options and a six-month extension option, in line with federal regulations. The work will be primarily carried out in Oahu, Hawaii, and Geraldton, Australia.
Chuck Prow, President and CEO of V2X, expressed gratitude for the Navy's continued trust and emphasized the company's commitment to enhancing the security and efficiency of Navy communications. The award is seen as a testament to V2X's growing presence in the Pacific and its expanding solutions portfolio.
V2X, a company specializing in integrating physical and digital infrastructure, provides a range of services including operations and logistics, aerospace, training, and technology solutions. With a global workforce of approximately 16,000 employees, V2X aims to deliver innovative support at every stage of mission lifecycle.
This contract underlines V2X's strategic support for the Navy's operational capabilities and its dedication to long-term service delivery. The information reported is based on a press release statement from V2X, Inc.
InvestingPro Insights
As V2X, Inc. (NYSE: VVX) announces its $88 million contract with the U.S. Navy, investors and stakeholders are closely monitoring the company's financial health and growth prospects. According to InvestingPro data, V2X has demonstrated significant revenue growth over the last twelve months, with a reported increase of 37.09%. This growth trajectory is echoed in the company's quarterly revenue growth of 6.35% for Q1 2023.
Despite not being profitable over the last twelve months, V2X has caught the attention of analysts who predict the company will be profitable this year. This is reinforced by the company's strong return over the last three months, which stands at 29.79%, showcasing a robust short-term performance that could signal confidence in its future profitability.
InvestingPro Tips highlight that V2X has a high shareholder yield and is expected to see net income growth this year, which may be of particular interest to investors looking for companies with potential upside. However, the company also suffers from weak gross profit margins, currently at 8.45%, which could be a point of concern for cost management and profitability.
For those interested in a deeper analysis, there are additional InvestingPro Tips available on V2X, including insights into their financial metrics and future outlook. To access these insights and more, visit Investing.com/pro/VVX and use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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